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Cautious Bond Investors
Have Issuers Thinking Big

By

Gregory Zuckerman Staff Reporter of The Wall Street Journal

Updated July 27, 1998 12:01 a.m. ET

Big is beautiful in the bond market.

Corporate bond investors have turned cautious in recent months, amid worries about the outlook for U.S. corporate earnings and concern that continued economic weakness in Asia could spark a new round of bond selling. And just as large capitalization stocks have become a haven to many stock investors, bond buyers are increasingly flocking to large bond issues, valuing their liquidity -- or ease of...